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Denise L. Nappier Connecticut State Treasurer Denise Lynn Nappier, the 82nd Treasurer of the State of Connecticut and the first woman elected Treasurer in State history, was elected in 1998 and re-elected in 2002. Treasurer Nappier’s high standards and financial expertise have brought integrity back to the Treasurer’s office and professionalism to the management of state resources. Her innovative and effective leadership has saved Connecticut taxpayers and businesses millions of dollars, and she is a strong advocate for corporate accountability, financial education and economic opportunity. Treasurer Nappier has a solid commitment to public service and a proven record as a skilled manager of public funds. A native of Hartford, Denise Nappier served as City Treasurer for nearly ten years, having been elected to five consecutive terms. Through her prudent management and leadership, Hartford’s pension fund was one of the top municipal funds in the State, saving taxpayers money and demonstrating unprecedented fiscal strength. Connecticut’s State Treasurer has a broad-ranging background in finance, public policy and administration, legislative affairs and urban planning. Before serving as Hartford City Treasurer, she served as Executive Director of Riverfront Recapture, Inc., a not-for-profit organization that successfully spearheaded the redevelopment of Greater Hartford’s riverfront area, as Director of Institutional Relations for the University of Connecticut Health Center, and an analyst in the Hartford City Manager’s office. She was also a consultant in the Connecticut Office of Policy and Management and a U.S. Housing and Urban Development Department Fellow. Ms. Nappier holds a B.A. from Virginia State University and a master’s degree in Community Planning from the University of Cincinnati. She has received the Connecticut Association for Human Services “Public Policy Leadership Award,” recognition as the “Woman of the Year” from Hartford College for Women, and has been inducted in the National Association of Securities Professionals Wall Street Hall of Fame. Under her administration, the Treasurer’s Office has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA). When Denise Nappier took office as State Treasurer in January, 1999, she became the first African-American woman elected to serve as a State Treasurer in the United States and the first African-American woman elected to a statewide office in Connecticut. Highlights During her first term as State Treasurer, Denise L. Nappier: Ensured sound management and high standards in the Treasury. Treasurer Nappier initiated and implemented a comprehensive Treasury Reform plan that eliminated political influence peddling, banned finders fees, strengthened public disclosure and improved the investment decision-making process. The Treasurer also achieved $993 million in investment reductions, recaptures or recoveries much of it from the scandalous Silvester administration. Achieved investment performance among the best in the country. Connecticut’s pension fund investment program is ranked at the top, performing better than 99% of other similar public pension funds (for the four years ending September 30, 2002). The Short-Term Investment Fund has seen unprecedented growth in the municipal and state agencies investing, and solid savings for municipal taxpayers. Returned more money to rightful owners than ever in state history. Under Treasurer Nappier’s leadership, more unclaimed assets have been returned to rightful owners or heirs during the past four years -- $38 million – than in any other four-year period in the program’s 66-year history. Established new web site and enhanced outreach to businesses. Saved taxpayers more than $196 million in management of debt. Refinancing of existing debt to lower interest rates will provide savings to taxpayers for years to come. Managed the sale of bonds for purposes including school construction, transportation systems, Bradley Airport, Clean Water and Drinking Water programs, and UConn 2000. Improved CHET College Savings Program…among the nation’s best. Sweeping changes and fee reductions by Treasurer Nappier have made CHET more affordable, accessible and flexible for Connecticut families. Now with $219 million in assets and 28,000 accounts, a 617% increase since 1999. Ranked a “top performer” by the Wall Street Journal. Promoted responsible corporate governance policies. Re-established corporate governance proxy voting, becoming an active shareholder to encourage responsible corporate citizenship on issues including protecting workers rights, promoting workforce and board diversity, prohibiting excessive executive compensation, safeguarding employee pension plans and eliminating conflicts of interest in corporate accounting practices. Saved businesses $23.6 million from management reforms. Tightening fiscal controls and strengthening management oversight in the Treasury’s Second Injury Fund resulted in two consecutive annual reductions in rates paid by Connecticut businesses, now the lowest in 14 years for insurers and the lowest in 10 years for self-insured. Created opportunities in the financial services industry. Developed a Domestic Equity Brokerage pilot program, affording qualified Connecticut businesses, women and minority owned businesses, and emerging businesses an opportunity to work with the Treasury’s investment managers. Increased emphasis on hiring Connecticut firms. Advocated funds for investment in Connecticut communities. Achieved a 33% increase in Fleet Bank’s financial commitment to community reinvestment in Connecticut, helping small businesses and working families, as part of the Fleet-BankBoston merger, and the sale of three bank branches to minority-owned bank. Established partnerships to increase financial literacy. The Treasurer served as a catalyst to expand financial education opportunities for state residents and achieved legislative approval and state, federal and private-sector funding for an Individual Development Account initiative that helps working families become economically self-sufficient.

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